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06-21-2018, 04:18 PM #1
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Greenbox is the funder that makes ISOs sign a Personal Guarantee, right?
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06-21-2018, 04:39 PM #2
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09-22-2020, 09:08 AM #3
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very interesting. Do we know why?
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06-23-2018, 08:25 PM #4
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why would any broker work with Greenbox if that is the case.
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06-30-2018, 06:14 PM #5
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07-02-2018, 10:02 PM #6
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07-02-2018, 10:09 PM #7
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If an ISO has no involvement in double funding a merchant than there should be no paper trail and no guilt to be concerned about. The burden of proof is on Greenbox to support damages caused by intentionally double funding a merchant. So this really is a moot point IMO.
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07-02-2018, 10:18 PM #8
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07-04-2018, 06:05 PM #9
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Anyone can make accusations and file suit, the old adage applies "its not what you know, its what you can prove". If you are a shady broker intentionally double funding merchants and theres solid evidence of it, the court will award damages to the plaintiff.
An accusation is not sufficient enough to show the court and win the case, so again it comes down to burden of proof on GB to show that an ISO double funded a merchant intentionally. GB doesn't need to lay this out, its on the ISO to be sophisticated enough to know A) dont do it and B) defend yourself legally and C) operate ethically.
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07-02-2018, 07:21 PM #10
Greenbox Capital does require a personal guaranty for all those who work with us. The personal guaranty can be waived for ISOs of scale or if the ISO maintains a Financial Institutions bond at least $250,000 in coverage. The personal guaranty is in place if the ISO is not willing or interested in obtaining business insurance to protect all parties, including the ISO itself, from brokers who are misrepresenting the product and/or committing acts of fraud. While some lenders have chosen to cut all or part of their ISO channel, Greenbox has chosen this route to produce the same result. Our Sales Partners are not responsible for any actions of the merchant, Greenbox has and continues to assume that liability of which our agreement clearly defines. Greenbox has and will always be a safe place for above board brokers to do business with.
Greenbox Capital is your access to working capital NOW!
www.greenboxcapital.com
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07-02-2018, 09:51 PM #11
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07-02-2018, 09:53 PM #12
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07-06-2018, 03:34 PM #13
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I put my contact info in here, and
was bombarded with spam from funders
if you need to reach me PM me
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